Home > Signing of the Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information of the International Organization of Securities Commissions (IOSCO)

Signing of the Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information of the International Organization of Securities Commissions (IOSCO)

On May 9, 2011, the Ministry of Agriculture, Forestry and Fisheries (MAFF) and the Ministry of Economy, Trade and Industry (METI) signed the Multilateral Memorandum of Understanding concerning Consultation and Cooperation and the Exchange of Information (MMOU）of the IOSCO.

On May 9, 2011, the MAFF and the METI signed the IOSCO MMOU, which provides a mechanism through which securities and derivatives regulators share with each other essential investigative material. At present, 80 regulators of the world have become signatories of the MMOU.

In order to cope with market abuse and manipulation in the commodity derivatives market, regulations and supervision of the market and cooperation among authorities are requested at G20 summit meetings etc. Under such circumstances, it is indispensable for authorities in the world to mutually and smoothly cooperate in information exchange so as to properly monitor and supervise the commodity derivatives market. Further, in response to the amendment of the Commodity Exchange Act in FY 2009, the MAFF and the METI are implementing measures toward market surveillance in coordination with the IOSCO and overseas market supervising authorities.

Now that the MAFF and the METI have become signatories of the MMOU, we can mutually cooperate and consult among the MMOU signatories to ensure compliance with and enforcement of the laws and regulations. International cooperative efforts will be made to ensure fairness in the commodity derivatives market, where cross-border trading is increasing.